Mitt Romney's Bain experience - a thorough analysis to quash current fallaciesSubmitted by Ian56 on Fri, 08/31/2012 - 16:20
Mitt Romney's Bain Experience
Mitt Romney has not created a SINGLE nett job in 28 years.
I do not know why anybody would think that he has.
Furthermore Mitt Romney has had a significant negative effect on America's wealth over the last 28 years.
The consequences for America's wealth are dire indeed should Mitt Romney ever be elected to the White House.
Mitt Romney's own claims on job creation at Bain
Romney claimed to have created 100,000 jobs whilst at Bain, during the Republican debates.Within 6 days he had to reduce his claim to 10,000 as the fact checkers got to work.The true number is probably zero.Bain was an LBO. Like all LBO's it wasn't their business to create jobs. Just make money from cheap money.
Staples was a very good idea and a gap in the market. It was waiting for an investor to get it kicked off the ground. It had nothing to do with Bain's business expertise. The CEO of Staples who had the idea, built Staples - he would have got funding from another investment fund eventually. Romney just got lucky he was in first. It was a v good idea.
If we take a more conservative view of Romney's job creation and do not give him credit for creating jobs at Staples, Romney's job creation record whilst Bain CEO becomes negative.
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